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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (52661)	5/13/2000 2:58:00 PM
From: goldsheet	Respond to of 116753

Anyone concerned about hedging should also avoid most Australian shares, which have some of the highest hedge rates in the world (often over 30% of reserves). The last time I checked Normandy had something like 60% of reserves hedged versus 15% for Barrick. Also, the largest hedged position in the world is almost 15moz by Anglogold. Maybe not a large percentage, but still could be a potential $US4B problem. Finally, if 15% hedged is unacceptable, Placer Dome should also be avoided, since they are still slightly over that level.